The Royal Borough of Kensington & Chelsea Superannuation Fund has sold an 11-property retail and office portfolio to a private Irish property company for £5.555m. The sale price reflects a yield of 8.84%.
The portfolio consists of nine retail units let to various multiple retailer tenants including Burton Group, Savacentre, Saxone and Fosters. Leases have between 2.5 and 16.5 years unexpired.
Also included are offices in Newbury and Wokingham. Prices for the individual properties in the whole portfolio range from £250,000 to £1m.
The shops are located in Doncaster, Falmouth, Folkestone, Hove, Melton Mowbray, Preston, Romford, St Albans and Sutton.
Healey & Baker acted for the vendor whilst Lambert Smith Hampton’s Belfast office represented the purchaser.
EGi News 14/04/97
